Spark EV Joining The Under-$20K Electric Club

You wouldn’t yet call them cheap, but the downward slide of electric car pricing is continuing apace. The latest evidence: GM said on Thursday that it’ll slap a $27,495 sticker on its 2014 Chevrolet Spark EV when it goes onsale in California and Oregon this summer.

Throw in the federal tax credit of up to $7,500 as well as state incentives that can range as high as $2,500, and good golly Miss Molly we’re talking well under $20,000 here.

2014 Chevy Spark EV (image via GM)

Beyond that, GM said the Spark can be had on a lease deal for as low as $199 per month for three years, with $999 due at least signing.

Tesla’s extravagantly priced (and apparently mind-blowingly great) Model S notwithstanding, this is definitely the trend in EVs. Nissan has seen sales pick up this year with the purchase and lease tabs shrinking for its all-electric Leaf; and Daimler’s smart fortwo electric coupe is hitting the U.S. market with an MSRP of $25,000 before incentives, with yet another $199 lease deal dangled.

Spark boasts a combined city/highway estimated range of 82 miles when fully charged and a combined city/highway 119 MPGe fuel economy equivalent. GM says that by plugging instead of pumping, Spark drivers could save up to $9,000 in fuel cost over five years.

“The Chevrolet Spark EV is the most efficient – and now one of the most affordable – EVs you can buy” Chris Perry, vice president, Chevrolet marketing, said in a statement. “Combined with outstanding infotainment and great design, the fun-to-drive Spark EV is engineered to impress.”